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Few firms expect better access to credit
Only twenty-three percent of privately held businesses (PHBs) expect finance to be more accessible this year, Grant Thornton International has reported.
Three percent said it would be “much more accessible, according to the organisation's report.
Eight percent saw no change while the remaining 46 percent thought finance would be less accessible, according to the organization’s report. Five percent believed it would be “much less” accessible, putting Vietnam in eighth place out of the 36 economies surveyed.
The research, which polled over 7,200 businesses, compares the expectations of PHBs against how supportive they feel their lenders are in the current economic climate.
On a global scale, 61 percent of PHBs expect finance to be less or much less accessible and a surprising 69 percent feel that their lenders are currently being supportive or very supportive, even in these difficult times.
PHBs in countries like Australia, India, and Poland appear most confident, believing their lenders to be more supportive and their access to finance better than the global average.
The worst expectations appear to be in Belgium, Thailand, France and Argentina, where PHBs not only fear that finance will be less accessible than the global average, but also feel they have the least supportive lenders in the world.
“These results give a fascinating insight into how lenders are viewed by PHBs in different parts of the world at this time of financial crisis,” said Kenneth Atkinson, managing director of Grant Thornton Vietnam.
VNS, VOV
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